MidCap Business Credit Closes New $14,000,000 Credit Facility
MidCap Business Credit announced today they have closed on a $14,000,000 asset based revolving line of credit for Allied Dairy Products, Inc. and subsidiaries, headquartered in Chatham, New Jersey. Allied Dairy Products provides a variety of services in the dairy industry with its main subsidiary importing and distributing high quality cheeses and other dairy ingredients.
The opportunity was sourced out of MidCap’s headquarters in West Hartford, CT. Seth Cooper, Senior Vice President of MidCap Business Credit said, “We were able to provide the company with a deal structure which will allow them the flexibility they need to execute on their strategic plan and grow the business. We look forward to working with the team at Allied Dairy.”
MidCap Business Credit provides asset-based credit facilities to lower and middle market businesses nationwide, who have borrowing requirements from $2MM to $15MM.